Filed pursuant to Rule 497(d)
SUPPLEMENT NO. 1
TO PROSPECTUS DATED JANUARY 9, 1998 OF
COMMUNITY INVESTMENT PARTNERS III L.P., LLLP
On February 24, 1998, Community Investment Partners III L.P., LLLP (the
"Partnership") consummated the initial closing of its offering at which the
following occurred: (i) the Partnership sold 44,500 units of limited partnership
interest, raising gross proceeds of $556,250; (ii) certain of the General
Partners made a Capital Contribution to the Partnership in the aggregate amount
of $4,619 in accordance with the Amended and Restated Agreement of Limited
Partnership (the "Partnership Agreement"); and (iii) also in accordance with the
Partnership Agreement, the Partnership returned the Initial Limited Partner's
Capital Contribution of $100. As a result, the Partnership has total capital of
$561,869.
The Partnership anticipates holding the final closing on or prior to March
31, 1998, as described in the Prospectus.
February 27, 1998
